E Scott Urdang Acquires 5,000 Shares of Gaming and Leisure Properties, Inc. (GLPI) Stock

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Director E Scott Urdang purchased 5,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were purchased at an average price of $36.23 per share, with a total value of $181,150.00. Following the completion of the purchase, the director now directly owns 55,241 shares of the company’s stock, valued at $2,001,381.43. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, October 26th. The real estate investment trust reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Gaming and Leisure Properties had a return on equity of 17.37% and a net margin of 39.31%. The company had revenue of $244.50 million for the quarter, compared to analyst estimates of $243.66 million. During the same period last year, the company earned $0.43 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.52 annualized dividend and a yield of 6.90%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 140.00%.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its holdings in Gaming and Leisure Properties by 3.2% during the second quarter. Advisors Asset Management Inc. now owns 23,540 shares of the real estate investment trust’s stock valued at $887,000 after buying an additional 731 shares in the last quarter. Delta Lloyd Asset Management N.V. bought a new position in Gaming and Leisure Properties during the second quarter valued at about $2,181,000. Systematic Financial Management LP raised its holdings in Gaming and Leisure Properties by 44.4% during the second quarter. Systematic Financial Management LP now owns 498,520 shares of the real estate investment trust’s stock valued at $18,779,000 after buying an additional 153,377 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Gaming and Leisure Properties by 11.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 703,821 shares of the real estate investment trust’s stock valued at $26,513,000 after buying an additional 73,869 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Gaming and Leisure Properties by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 1,269,870 shares of the real estate investment trust’s stock valued at $47,837,000 after buying an additional 55,471 shares in the last quarter. Institutional investors own 89.69% of the company’s stock.

Several brokerages have commented on GLPI. Ladenburg Thalmann Financial Services set a $41.00 price target on Gaming and Leisure Properties and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks, Inc. restated a “hold” rating and set a $38.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday, October 24th. Stifel Nicolaus restated a “hold” rating and set a $39.00 price target on shares of Gaming and Leisure Properties in a research note on Friday, July 28th. Finally, Barclays PLC upped their price target on Gaming and Leisure Properties from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.86.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.

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